Gold Price Moving Toward $2,100 Per Ounce

GOLD

The Federal Reserve’s favorite inflation measure, the personal consumption expenditures price index (excluding volatile food and energy prices), rose at a 3.2% annual rate last month and was up just 0.1% month on month. The U.S. Dollar Index moved under 101 and 10-Year Interest rates moved under 3.80%. Gold reacted positively to this news and quickly jumped $25 today on better than average trading volume.

At 11am PT today, Gold is trading at $2,058 per ounce, up $2.50 on average volume.

SILVER

The price of Silver rallied with Gold, reaching a high of $24.42 per ounce. We saw some light profit taking on the U.S. commodity exchanges.

At 11am PT today, Silver is up $0.60 per ounce, trading at $21.60 on good volume.